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Self employed

Forum|Forum|3 years ago
October 26, 2022
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What are tax write offs for self employed and are receipts the only acceptable form of proof for example gas, supplies that were bought?

Best answer by Donna F 77

There are numerous expenses that self employed taxpayers can claim on their tax returns. Some of these include supplies, office, postage, advertising, legal & professional, rent, and auto. Here's a link that breaks down expenses by different types of self employment:

https://ttlc.intuit.com/turbotax-support/en-us/help-article/self-employment-taxes/self-employed-expenses-deduct/L37ZS1B8T_US_en_US

Another good reference is the IRS Small Business website. Here is the link for it:

https://www.irs.gov/businesses/small-businesses-self-employed

Receipts are generally required for record-keeping purposes. If audited, you may need to produce the receipts and/or business bank statements showing the activity of the business.

Donna F 77Answer

There are numerous expenses that self employed taxpayers can claim on their tax returns. Some of these include supplies, office, postage, advertising, legal & professional, rent, and auto. Here's a link that breaks down expenses by different types of self employment:

https://ttlc.intuit.com/turbotax-support/en-us/help-article/self-employment-taxes/self-employed-expenses-deduct/L37ZS1B8T_US_en_US

Another good reference is the IRS Small Business website. Here is the link for it:

https://www.irs.gov/businesses/small-businesses-self-employed

Receipts are generally required for record-keeping purposes. If audited, you may need to produce the receipts and/or business bank statements showing the activity of the business.

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